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caught on camera what led >>> president obama is back in washington where the weather is just as frigid as the political climate inside. fiscal cliff talks appear to be going nowhere. the president is trying to hammer out a deal before major tax hikes and spending cuts kick in january 1st. this morning harry reid launched a scathing attack on house republicans for not returning to washington. >> i can't imagine their con chens they are out wherever -- consciences they are out wherever they are and we are trying get something done. >> newly appointed senator flew back with the president today, left governor currently will replace the late senator daniel inouye. >>> that looming fiscal cliff is having a huge effect on the stock market today. you can see the dow is down 135 points over 1%, consumer confidence very low because of concerns that fiscal cliff will cause taxes to rise for everyone if congress tpaeults to work to the. >>> former president george higgs boson bush remains in intensive care he is -- george h.w. bush remains in intensive. doctors suspected he would be home in time f
doocy live in washington with more on the last-minute deal making. hey, peter. >> hey. president obama is still going to be able to squeeze in one more day of vacation in hawaii before he leaves his wife and daughters hyped and boards air force one for dc at about 10:00 p.m. in honolulu, 3:00 a.m. eastern time. that should get him back to the white house sometime tomorrow, thursday morning, on the back end of a break he says he hopes will get lawmakers on the same page. >> everybody can co- opt, drink egg nog, have christmas cookies, sing some christmas carols, enjoy the company of loved ones and then i'd ask every member of congress, while they're back home, to think about that. think about the obligations we have to the people who sent us here. >> speaker of the house, john boehner, is expected to come back to washington at any time as well. before he went back to ohio and president obama went to hawaii, they were believed to be about $400 billion apart in spending cuts and tax increases. speaker boehner even had to withdraw the so-called plan b measure in the house that would raise
that to happen, it will be the most colossal consequential act of irresponsibility. >> reporter: president obama says he'll cut his vacation short to hammer out a deal with congress. the deadline now a week away. i'm andrew spencer reporting. >>> if congress face to reach the agreement income tax rates will go up on just about everyone on new year's day. unemployment benefits will expire for many as well. you may not feel the pinch right away. already too late for employers to accurately who would income taxes from those january paychecks. the social security payroll taxes are set to increase on january the 1st. you will see an immediate cut in your take-home pay. >>> the senator from idaho is apologizing for being arrested over the weekend. senator michael crepo was charged with driving under the influence. he was pulled over early yesterday froms agoryia, virginia outside of washington. the senator says he is he is deeply sorry and will deal with the consequences. >>> charges could be filed as soon as today against a driver accused of striking several pedestrians in san francisco. one of the v
on the far right, the idea that mitch mcconnell would make a deal with obama could be acceptable. you have 10 or more republican senators who say they are willing to do business with president obama in terms of approving an increase in the marginal tax rates. if that is the case, if you could get them to pass some kind of bill and then send it on to the house, and all boehner said was i will allow a vote, and you have democrats and some republicans feeling pressure joining in, you could get a bill done. host: rick is from massachusetts on our independent line. caller: good morning. i have a problem with the president. he is the most divisive individual who has come to power in this country for a long time. he completely denied his white relatives and blames all the problems on white men by buying the votes of the lower earners in this country by saying it is not your fault. he promised to bring this country to gather. what happened? guest: i am surprised. upper income people voted for president obama. what is clear and true is if you look at white men, white men are overwhelmingly the single
would include short term spending cuts instead of long-term deals that had been sought. >>> from hawaii. comes word that president obama will cut short vacation and return to washington later today to take part in "fiscal cliff" negotiations. christmas day the president and first lady met with servicemembers and their families. the president told the marines he was grateful for their service and posed pour pictures. >>> recent college graduates are having a tough time getting jobs in their desired lines of work. according to the latest u.s. census figures about 2 60,000 young adults with college degrees in california are working in food service and retail. >> couldn't get a job in the field that i wanted to so i figured i have to start at the bottom. >> without higher paying jobs, it's that much harder for graduates to pay back student loans weapon tuition rising across the nation. >>> the holiday season isn't what it used to be for american oh. a new poll suggests a lot of people are working between christmas and new year's. the survey conducted in the midwest shows about a third of wo
. in other news, u.s. president barack obama has broken off his christmas vacation to resume talks on the so-called fiscal cliff, taxes and spending cuts unless democrats and republicans reach a deal by new year's eve. >> nearly all the major players in those negotiations are starting to agree on one thing, and that is that a deal is virtually impossible by that deadline. senior officials say there is little hope of a grand bargain to shave trillions of dollars off of america's mountain of debt. >> applause for the bell at the start of the trading day is a daily ritual at the new york stock exchange, despite the enthusiasm, traders are keeping an anxious eye on share prices. the fiscal cliff is on everyone's mind. u.s. treasury secretary timothy geithner has warned that his department will need to take extraordinary measures to postpone the upcoming government defaults. he plans adjustments to the national budget that would give the u.s. two months of grace. president barack obama has said he is still hopeful that a resolution can be reached this year. he cut short his vacation in hawaii to
mcconnell. senator reid says there is no time to reach a deal. mr. mcconnell says he is more optimistic. then from the republican controlled house of representatives, the top republican john boehner has rejected president obama's previous offers and the morse -- most senior democrat in the house, nancy pelosi. what is the cliff and can be avoided? >> the house of representatives will be going back into session sunday but at this point we do not know what kind of measure they have before them that they can consider for a vote. there has been no indication from the white house or the republican leadership that they are anywhere near any kind of makings of a deal that they could present to the house republican leadership -- or the house republican rank-and-file who so far have been adamantly opposed to tax increases at any level of income, which is an absolute prerequisite for president obama. if they do not come to some kind of agreement, but that tax to be voted on -- and there is doubt that it is logistically possible before new year's day -- then the most immediate impact would be the
you see going on? >> well, i think president obama is not yet made up his mind. i think they got out ahead of themselves in a sense. they were floating hagel as if it was a done deal when it really wasn't. s there's been intense criticism. i think for obama to pullback on hagel after appearing to have done that on susan rice would present at the beginning of the second term an image of weakness domestically and also naturale: -- internationally. >> brown: and hagel, a former republican senator so we're looking -- >> there is the bipartisan element. although senator hagel didn't have a lot of allies left in the republican party when he left. >> brown: david ignatius, james mann, thank you both very much. >> thank you. >> woodruff: still to come on the newshour: another day of mourning in newtown. we'll hear from wayne lapierre of the nra and mark glaze of mayors against illegal guns; education secretary arne duncan; and high school students from around the country. also, the state of the fiscal cliff after a split among republicans; plus shields and gerson. but first, the other news o
'll have a massive sell-off? what do you think? >> well, i think the market's been very fearful that a deal would not get done for some time, but you see, in this market, it fell down after obama got reelected, but then it's been working its way back up. the fact is that i think a deal will get done and the key part is avoiding incomes under 250,000 and that's probably what they're going do. >> why is that market participant or are you speaking politically there? >> no, i'm speaking as a market participant because the spending for income for people under 250,000 in income is an important economy and that part of the economic spectrum and what they have in their pocket affects what they spend. >> and i get your point. we're a consumer-driven economy. broadway an kelly, your assessment about what happens if we don't get a deal? what happens in the markets? >> i think you saw it this morning and it looked like we're doing a full cliff dive and the market started to tank. i agree with the consumer. look at the consumer con if ied thens morning and that was driving this economy. we had consumer
cliff, talks on hold until after christmas and president obama and house speaker john boehner have not spoken since friday. lori: is there any hope for a deal? are you the last man there? >> a staff is here. the staff is in this but all eyes are on the senate when it returns this thursday to try and get a deal to avoid getting off a cliff the past friday before the president left for the holiday, he proposed a limited measure to avoid all of the cliff when speaker john boehner plan b. got scuttled. the president wants to extend the bush tax cuts and avoid some of the deep spending cuts. white house spokesperson says discussions continue between the administration and capitol hill. in july you may recall senate democrats passed an extension of the middle-class tax codes for the year. those folks making less than $250,000 per year at a cost of 157 billion. also passing the alternative minimum tax for $92 billion. mitch mcconnell is critical to hammering out a deal because he can filibuster any legislation, but his spokesman told me this morning nothing new to report. we don't know wh
. president obama said it is part of a deal that i want to make, those benefits should continue. the public has to take a firm stand. we have seen in the past that obama had to cut a deal in order to get those extensions. host: what specific benefits to these programs provide? guest: the usual weekly cash payout is about $300 a week. sometimes it can vary. in mississippi i want to say it is closer to do hundred dollars. host: how are the programs usually bonded? guest: there funded by payroll taxes. the state administers the programs and the money goes to the unemployed. host: talk about what qualifications people have to meet in order to apply. guest: generally you have to have basically a year of earnings. the earnings have to be a certain threshold. you have to have been let go from a job. it is not like you can just wore mauve and a cloud of anger and qualify for benefits. if you have been working at the mill 14 years, and lose your job and a layoff, it is pretty easy to get benefits. host: we have some of those qualifications a person must meet on the screen there. for people who have
. the dow dropped 24-1/2. the s&p 500 slipped 7. nasdaq fell 22.5. president obama has been in hawaii for some holiday r&r. the republican lawmakers are likely hoping that means he is rested and ready make a deal on the fiscal cliff. however, chief white house correspondent ed henry tells us that washington may have to set with a backup plan to the backup plan. >> christmas tradition for president obama. he and first lady michelle obama saying thanks at the marine corps base hawaii. >> so many of you make sacrifices day in and day out on behalf of the freedom and behalf of the security. >> now the president is giving up some vacation time rushing back to washington aboard air force one late tonight to deal with the looming fiscal cliff. after that red eye, the president will no doubt need coffee. starbucks decided to get political in the washington, d.c., shops, by having employees write come together on cups. ceo howard schultz writing in open letter, "my hope is the simple message will serve as holiday reminder from starbuck of the spirit that bridgeed differences and we have the po
's not forget the reason president obama is returning from hawaii early. the fiscal cliff. consumers are nervous that lawmakers will be unable to reach a deal. >> samsung is seeking a ban on the import and sale of some erickson products and the u.s., escalating a dispute over patent fees. the complaints at the trade commission followed a dispute over mobile technology patents that erickson bought before a u.s. district court after the two sides failed to agree on licensing terms. in november, erickson said the samsung is seeking to drastically reduce the fee it pays to license patents. >> facebook has poked its way into ranks of mobile apps yet again. the social media company put smaller developers on notice last week with a lot of this new poke app for iphone. the app mimics snaped chance, a popular ab with teens that allow users to send images that self destruct moments after the recipient use it. poke immediately rose to #one on the iphone. thanks to the aggressive mobil development and cutthroats competitiveness, facebook owned three of the top-10 iphone apps of 2012. the other two are the f
scrambles to avert the fiscal cliff. >> president obama asked congressional leaders to convene at the white house today. >> if the president and lawmakers cannot reach a deal economists warn that could trigger another recession. >> are they going to avoid the fiscal cliff, eric? >> the gulf war general known as stormin' norman has died. gen malnorman shwards cop of dread the coalition that drove saddam hussein's forces out of kuwait. >> the monster storm system finally moved out but some are bracing for another round of snow. >> more than 14,000 longshoremen are planning to strike on sunday the walk-out could affect ports from boston to houston. >>> for the second time this month a man has been pushed to his death in the path of a new york subway train. >> crazy people running the streets. >>> an uninvited guests slithered into a backyard in florida. >> somebody else got the shower on the sideline. >> jamal crawford who i think should be an all-star coming off the bench is dangerous. be still. >> and all that matters. >> hillary clinton plans to go back to
, negotiations. >> president obama is in hawaii for christmas. and says he'll cut his vacation short to try and hammer out a deal with congress. the deadline. now a week away. if congress fails to reach any agreement, income tax rates will go up on just about everyone on january 1st. unemployment benefits will expire for many as well. >> thousands of nurses will walk off the job today at nine bay area hospitals. nurses with sutter health's alta bates summit medical center are asking for negotiated labor contracts and improvements in patient care protections. such as staffing levels, health benefits, and sick days. strikers say hospital officials want to reduce the number of paid sick days for nurses and technicians, while eliminating health care coverage for those who work fewer than 30 hours a week. >> we will be right back. thousands of palestinians and international tourists are visiting bethlehem to visit christmas. and to celebrate-christmas. this is live at the we will be right back. >> watching wall street, this shorter trading day. they are open until just 1:00 p.m., not a lot to ch
the reason for the obamas returning from a wire early this is a cliff. >> consumes enervate the lawmakers will be unable to reach a deal before the the digital age is making aging a whole lot easier. >> from talking pill dispenser to tracking devices tucked inside tennis shoes to digital medical scanners that can transmit bottle size to the doctors, today's gadget held senior stay in their homes and can give relief to loved ones and care givers. >> many products to be found in self-help medical goods shops, but they are also offered on line. >> advocates say it is best to consult with health care providers for suggestions on what to use. >> facebook has poked its way into the top prize of mobile apps yet again. >> the social media company put smaller developers on notice last week with the launch of its new polka at 4 iphone. >> the app mimics snapshots--snap chat, a popular app with teens that allow users to send images that self-destruct moments after the recipient use it. >> polka immediately rose to #one on iphone. >> thanks to the aggressive mobil development in cutthroat competitive
. the market doesn't seem to care. >> all the big deal, boehner and obama tried to do last year, still have to do that, simpson boles-type thing. >> by what the secretary of the treasury said yesterday. >> right. >> thank you for being here. >> bromance. a lot of fun. make sure you join us tomorrow. "squawk on the street" begins right now. >>> good thursday morning, welcome to "squawk on the street" live from the new york stock exchange, i'm carl kin ten nia with melissa lee, cramer and neighborer are off today but we are joined by dennis. good morning to you dennis, thanks for coming in. futures today, a lot to deal with as you probably know. the fiscal cliff headline watch continues. you just heard john kanas say the market not too concerned. futures up 21 points. decent data out of europe, we will talk about in a minute what a day for the asian markets again. also coming up. our road map begins at andrews air force base where the president arrives in a couple of hours, cutting his hawaiian vacation short to address the fiscal cliff s there really any hope in the last attempt? does the ma
to washington. but with just six days to go, homes for a last-minute deal may be fading. nbc's kristin welker is with us tonight from honolulu. kristen. >> reporter: natalie, good evening. with president obama flying home this evening, the political rhetoric has already started, with republicans urging action in the senate, and with democrats calling on republicans to put middle class families first. the president and first lady spent part of their christmas visiting troops in honolulu. >> we want to say thank you. we love you. >> reporter: but now he heads back to a snowy washington, where the last hope for a deal to avert the fiscal cliff is the senate, which returns tomorrow. majority leader harry reid is devising a partial solution that could ease economic fears. >> if we go over in a chaotic fashion, where members of congress are deeply grid locked with no sign of coming together, then we're likely to go over and stay over. and that's very problematic. >> reporter: going over the cliff would restore higher bush era tax rates and trigger deep spending cuts on january 1st. congress set up
turn, we're simply not going to see the democrats take them up on that because president obama since that letter has won the election and now we're looking at the possibility of a mini deal that would get enacted before january 1st but so far all we've heard are the sounds of silence in the negotiations. a senior white house official told me today when i asked was there any holiday season progress, back channel progress over the past couple of days, got a one-word reply, no. second, the democratic senate leadership says there's a 50/50 chance that we'd get a deal between now and january 1st, but they don't have any progress signs to point to in a tangible way. that's sort of a gut feeling that that will happen, and senate republican leadership aides said we haven't heard anything from the white house or senate democrats, so right now it's looking stalemated. there still is time for people to come back and pass a temporary kick the can kind of solution that would at least get us past january 1st for a month, two months, three months, but we've got to wait and see over the next couple
is here. it is now. >> pushing for a deal to avert the "fiscal cliff" just days before the deadline. the progress report from president obama and his backup plan. >>> why there's a manhunt for the woman in this surveillance video. a case involving death and deja vu. >> the guy grabbed him and put him in the car and took off. >> a dog taken and held for ransom. the effort to get back a pilfered pomeranian. ,,,,,,,,,,,,,,,,,,,, >>> you're watching cbs 5 eyewitness news at 6:00. >> this is deja vu all over again. we are now at the last minute. >> last-minute talks on the "fiscal cliff." tonight, we're going into the long holiday weekend still no deal. but there is a bit of confidence that the senate will reach a last-minute agreement. with three days to go there were talks today, then the president addressed the nation. thigh presidentgrace lee reports. >> reporter: the plan b would be this. if there is no deal, then the president says he still expects the senate to take action. he says at the very at least he expects to keep unemployment benefits to the jobless and to maintain the bus
shoulders with the power centers, and it was these power centers that made it possible for obama to first become a united states senator and then the president of the united states. so they owe a great deal to valerie. she is their godmother. she is now the senior advisor to both the first lady and to the president of the united states and obama himself has said, i run all my decisions through valerie and i trust her implicitly. there is no one short of the president in the first lady who has more power in the white house than valerie jarrett. >> you are so right there trying to figure out jared's mysteries hold on the president and first lady is a favorite guessing game in the parlors and dining rooms. >> it strange because what is your source of power? after all she doesn't have any foreign-policy experience but she attends national security council meetings. she's often in the most important domestic meetings regarding the economy. no one gets to see the president without first going through valerie jarrett so what is this power that she has. the only explanation i can come up with aft
of obamas remarks is he still would like to get a deal done. we want to hear what you think. you have the phone numbers on the screen. if you are republican call 202- 585-3885. andocrats, 202-5853886 z independents 202-585-3887. meet your tv. -- mute your tv if you call in. the president is optimistic that the senators will reach an agreement in time. let us hear from curt from akron, ohio on the democrats' line. >> hello. good evening. i called on the democratic line only because i voted democratic but i have some reservation about this president. when it comes down to it, i have a couple of points. everybody across the board needs to have a 15% increase in what they paid for their health care. to help lower the cost of health care from president obama down to the medicaid recipients. that needs to be first. this whole idea of messing around with getting this done, not doing this during the election and waiting days before the fiscal cliff where we go off. the president should have held what i would call a slumber party and have him, the congressional leadership, and the cabinet lock
and then tax hikes on everyone, automatic spending cuts, and no deal reported. the two parties are talking again at least. steve has the latest from capitol hill. >> sources are capitol hill say president obama in today's talks feels he has the advantage back and that he will press on his original demand that income taxes rise on earnings over $250,000. it's a positive sign, the first meeting since mid november the four congressional leaders at the white house. called by president obama, house speaker john boehner is a key figure. >> the fact that he has come back to me says that they cannot come up with some kind of agreement. -- that they can come up with an agreement. >> both sides want to avoid middle-class tax cuts. the hang up is the tax hikes on the rich. those making over $250,000 in the obama reposal or $400,000, a level that mitch mcconnell reportedly said he might be able to sel? republicans won the debate shifted. >> the talk about taxes, but what it should be about is what we want to talk about today -- the medicare fiscal cliff. >> no date to cut a day to reform entitlements
's working very well, at least today for the stock. thank you, nicole. well, president obama has always promised not to raise taxes on the middle class, but if he can't reach a deal with republicans in the next seven days, that's exactly what will happen and adam shapiro, i've got to tell you, looking at the numbers, if the president gets every penny from the so-called rich that he wants to get, that would still only be 1/8 of the money that he needs to balance the budget. >> in very simple terms, it's roughly 70 billion dollars is what it would raise, in a budget-- >> if the rates go up and another 20 billion, if you get rid of deductions, but he's increased spending 800 billion dollars a year. >> and to say that 70 to 80 billion in a budget that's 900 billion to a tral over budget. so doesn't add up. where does the other 930, 920 billion where is it going to come from? >> which is why, shibani, a lot of people say, maybe he wants to go over the fiscal cliff because he cares about maintaining that level of spending. he doesn't want to decrease spending, he wants to keep it where it is
's the problem. president obama meeting with the leaders at the white house. misreporting going on that the president had a new deal, looked like progress was made. no. the president had the same deal that republicans walked away from about a week ago, if you call it a deal, the deal is that he won't tax people higher above the 400,000 mark. shibani: the meeting still going on, rich edson live at the white house with the latest details. what do we know now, rich? >> what we got from an administration official, that president obama offered what he detailed in the speech a week ago keeping tax rates where they are for families earning less than $250,000 a year, extending long term unemployment insurance policy, and that bit of detail he gave a week ago in a speech is basically derived from the larger deficit proposal offered over, really, the last couple years as president of the united states. we're waiting whether or not in the meeting, lasting an hour at the white house, started at 3:10, is whether or not they made progress towards changing that proposal in a fashion to pass th
boehner and barack obama and many people who know these two men feel perhaps they could have a deal. we think to the budget and debt ceiling debacle. neither john boehner and to some degree mitch mcconnell have the ability to go back to their caucuses and get them to rally behind a deal they make. has that changed or does this change as we get closer to the deadline? >> i think it will change closer to the deadline. it will require the leaders to talk to their caucuses and talk to these individual members of the senate and the house of representatives and understanding and underscoring the peril we place in the country at this moment in time and that we have to resolve these issues. american people should not count on a stalemate. we're here to do our jobs in washington and we're seeing this failure demonstrated time and again because of ideological and political and philosophical stubbornness. what about the entire country? what about the good of the country? that's what's at stake for america, and i think that members of congress individually and collectively are responsible and the l
on a particular deal. john boehner made a big concession allowing tax cuts to rise on income over a million dollars. president obama countered with a big concession and saying that that should be $400,000 and have fixes to social security on costs of living adjustments on that. what ended up happening? john boehner retreated their plan b that mike viquiera was talking about that was unable to pass and now we are in the stalemate we are in now. we were closer than before. >> you touch on a good point. that's lost now in the media. we are going-over the cliff. last week they are $450 billion away from a deal. that's less than 1% of the federal spending over the next decade. in d.c. terms, 400 billion seems like a lot. that's a drop in the bucket in d.c. terms. it's amazing that small of a number killed a deal. >> if you are buying a house or a car and one person said look, i'm going at $1 billion. usually split the difference and do the deal. this time around, that didn't happen. neither was hoping for this. if house republicans couldn't go for that million dollar threshold, they are not goin
delay some spending cuts but it would not touch president obama does think this plan would pass both the house and senate if it got an up or down vote. he told the senate they had a day or two to make a deal on their own. if they're not making any progress he wants both chambers to bring this plan forward for up or down vote. speaker boehner apparently was noncommittal to that idea. it's important to point out that the debt ceiling is not a part of this plan c. that is still going to have to be dealt with separately later on. >> juliet: thank you, peter. >> dave: moderately optimistic. >> juliet: we are moderately optimistic about the weather. one-two punch comes as people are still digging out from past week's snow storm. >> clayton: preparation press still underway. stacking up on salt and sand. they have been presalting some of the roadways. >> dave: i hope so. maria my lien in for for rick this morning. good morning, maria. >> good morning. good to see you guys. good morning, everybody. we have another storm system first alert forecast to bring more snow to the northeast today. t
both bushes and of mr. obama. host: and what does this have to do with the senate negotiating a fiscal of deal? caller: let me tell you something. if you go to the website listed on the left and upper side, united states -- each tax coming out of each state is going towards the or. -- war. i believe all of these politicians, mayors, governors should take a half cut pay to pay down the deficit. host: we are going to move on to darwin on the line for independents. caller: it is like the pentelikon, back in 1968 i was even fighting with the pentagon over budgets. you always had to have everything kept the same. nobody was going to change anything because next year there were going to pop everything by 10%. they told you got to worry because you would get 10% more. that goes all the way back to 1968. they just keep dwelling on one thing over and over again. i would like to know from the boston globe or the herald is asking for pictures of -- host: let's move on to del on the line for democrats. caller: this is an outrage that they cannot tax the wealthy by an additional 4%. this is the low
this is president obama leading hawaii and now everyone is going to try to reach a deal on the fiscal cliff. >> we are taking a live look here at our mt. tam cam. you can see it shaking around. my favorite shot of the morning with relatively clear conditions. we have high clouds up above but no issues with visibility. today's forecast, expect sunshine and dry and pleasant weather. we'll have some changes and introduce some showers into the forecast which could continue into saturday morning. it looks like we'll be drive by sunday. satellite and radar shows a high pressure is in control for now. we have changes to talk about in my next report. >> speaking of walking you could probably walk across the toll plaza without being hit this morning. traffic is light and no delays coming out of the macarthur maze. east bay freeways are running much lighter than usual. we're still looking at under 25 minutes drive time from the bottle to the golden gate bridge. >> a developing story and walnut creek where there is an officer involved shooting and ended with a suspect being cleat killed. will tran is live wi
short his hawaii vacation to return to washington and coming up, signs that president obama maybe reaching out to another republican leader after his negotiations with house speaker john boehner did not result in a deal. >> well, traffic don't in downtown san francisco could grind to a halt. that's because today is the last scheduled critical mass event for the year. for those new to the area, on the last friday of every month, dozens of cyclists ride alightning the waterfront and down market street and drivers are always advised to expect delays. >> peeking of, we haven't really seen any this morning. let's go to tara and see if that changed. >> no, the same story. maybe a lot of folks headed up to the tahoe area. maybe they already left as a matter of fact because the skiing is going to be pretty good up there. right now i want to show you my maps so you can see exactly what i'm talking about up here. the roadways are completely clear and in livermore the same story. overall a very nice commute this morning. 237, those taillights there on the far right hand side of your screen w
the past year. that's likely to continue. even if we get a deal, what does this mean? it's a minimalist quick fix. it's not a debt and deficit grant grand bargain solution which obama and boehner were talking about weeks ago and it's probably not going to involve solving the debt ceiling problem. and, of course, we all saw what happened 18 months ago over the debt ceiling. it dragged on and on. bottom line, whatever happens in the next few days, markets, corporate america and consumers in america are probably going to have to deal with continued fiscal wrangling' in washington for weeks and weeks and weeks. >> we're going to talk more about the fiscal cliff and later on in the show. just coming back to europe for a second or touching on europe -- >> even more boring. >> because i'm quite looking forward to next year and i'm looking forward to hoping that we're not going to be sitting on politicians the same way we have over the last year, two years, looking at every single line that comes out of therefore mouths. i'm hoping we're going to see march of a sense of normality coming back in
's the deal. these type of negotiations what we lost a $4 trillion opportunity when boehner and obama were at the table having talks prior to the holiday. what we're looking at really condensed timeline of $1.5 trillion. kay bailey hutchison and other senate republicans come to the table and said look, i'm more you let's get a deal done. this roadblock is more on, are we going to be willing to raise taxes. gregg: marjorie, "the wall street journal" had a fascinating look at the negotiations. they talked to a participant. let me just read you one passage. at one point, according to the notes taken by a participant, speaker boehner told the president, quote, i put $800 billion in tax revenue on the table for you. what do i get for that? the response from the president? you get nothing. i get that for free. that is not negotiations, is it, marjorie? >> well, but you have had similar deals made by democrats where they have come to the table said here's what we're willing to do. this will take bipartisan compromises. gregg: that is not bipartisan that. i get everything for free. >> in that same
. president obama cut short his hawaii vacation to return to washington. coming up at 5:15 the odds they will be able to come up with a deal were january 1st. >>> the contra costa fire distribution has put together a meeting to discuss the closing of five district stations. they are in clayton, lafayette, martinez. the first meeting is on january 7th in lafayette. we have posted a list of times and locations of those meetings. >>> the brawl that caused wide spread panic in a san francisco mall led to a loss in post christmas sales for business. they ran from the mall when they heard a noise that sounded like gunshots. police arrested three people. all the commotion led to a lock down and likely kept thousands of post christmas shoppers out of the mall. there is no estimate on how much money businesses lost but analyst tell the sacramento breeze it's like -- sacramento bee it's likely a significant amount. >>> janine de la vega is live for us in cupertino this morning. one of the places where a dui crack down starts today. >> reporter: that is right. starting tonight sheriffs deputie
, this is the kron 4 news. >> catherine: just 4 days to go. president obama stated the obvious earlier today. saying the hour for immediate action is here" to avoid the fiscal cliff. if there's no deal by midnight december 31st. there will be automatic tax increases and spending cuts. we'll have more from our political analyst in a minute - but first. kron 4's justine waldman is back with more on our developing story. >> reporter: after meeting with bi-partisan leaders friday, the president said no one will get 100-percent of what they want. he said if congress can't reach a deal. congress should allow a vote on a basic package that would preserve tax cuts for middle-class americans, >> i am optimistic that we can still pass a deal in both houses in time, mitch mcconnell, and harry reid are working on an agreement as we speak >> i have my confidence destroyed on other occasions and so i hope it is not on this occasion the timing, we have to do it now that is what the next 24 hours will be very important. >> we had a good meeting in the white house we are engaged in discussions with the majority, the
are trying to negotiate a scaled-down debt deal to avoid some of the fiscal cliff and take other major decisions on taxes and spending to the future. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part ofhe discussion. that is significant development r house republicans who won any increase in the borrowing limit it accompanied by an equal amount in spending cuts taking the debt ceiling of the table making it much easier for the scaled-down version to be negotiated. from here senate leaders will try to secure an agreement by sunday morning. if so, democrats and rep
. >> and it has some great names. looking forward to it. on my list, as well. >>> president obama's christmas vacation will be over in a matter of hours. we'll have the latest inside information on whether he'll get a deal or more frustration when he arrives back here in the nation's capital. [ male announcer ] alka-seltzer plus presents the cold truth. i have a cold, and i took nyquil, but i'm still "stubbed" up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] it doesn't have a decongestant. no way. [ male announcer ] sorry. alka-seltzer plus fights your worst cold symptoms plus has a fast acting decongestant to relieve your stuffy nose. [ sighs ] thanks! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer ] to learn more about the cold truth and save $1 visit alka-seltzer on facebook. make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! bu
this first four years of barack obama's first term. every single time fiscal issues come up and every single time he had to deal with republicans it has been the exact same routine where the president promises that he is very interested in deficit reduction and very interested in serious spending cuts. none of whichever materialize. but the class warfare rhetoric is always still there. he is always interested in raising taxes to feed his ever-growing and every ravenous beast of the government. here we are again. when i talk about this is no way to run a superpower, what i mean by that, every single time we get to the press miss and every single time our leaders wait until the exact last minute, i mean one thing to wait for it the last minute to buy christmas gifts for tomorrow. i see plenty of people running around new york city trying to buy gifts. another thing for the president and congress to wait until the last minute on fiscal issues that affect every american, gregg and our long-term fiscal health. gregg: are you saying the president is disingenuous and duplicitous which would be nove
service back up and running. that said there's a great deal to be done. president obama's request for disaster assistance seeks $60.4 billion for recovery and mitigation. department of transportation shared request,$.7 billion and of that $11.7 billion the majority portion directly support the effort to repair and replace the effect of public transit infrastructure and make it more resilience. these funds would be administered through the new public transportation emergency relief program and i want to thank you for your leadership in establishing this program just a few months ago. the administration requested in its budget, you may recall i testified on its behalf before the committee in may of 2011. we are grateful to the senate appropriations committee for responding to the president's request for aid under this program. the support of both committees was timely as the new emergency relief program strengthens the authority to provide financial disaster assistance to transit agencies in times of greatest need and to better coordinate with partners of fema. fda's request reflect
or not all of our taxes go up. president obama and congressional leaders with trying to come up with this last-minute deal to avoid the so-called fiscal cliff, the massive tax increases and spending cuts to take place in four days. the president and vice president will be meeting with house speaker john boehner, minority leader nancy pelosi, senate majority leader harry reid, and minority leader mitch mcconnell. and watching all this, jessica yellin live at the white house. jess, what do we think is going to happen here? >> reporter: well, based on the expectations around town, the thought is the president and democrats will lay out an alternative, scaled-down proposal. and there will be discussions about what could be in the details of a proposal they could vote on, in theory, this weekend. the ideal outcome would be all the members agree to the terms of that deal. and then the two senators in the room agree that they can get their parties to bring it to a vote with no one filibustering it. and then on the house side, speaker boehner would agree that he will put it on the house
obama charged him and the majority leader to come up with a deal to troy to avoid falling over the fiscal cliff. want to bring in brian monroe, editor of cnn from san antonio, texas. brian, we all know what's at stake, especially that immediate 2% payroll tax increase in everyone's first paycheck of the year. it seems that the president used his bully pulpit to strongly encourage senators to get to work by sending a not so veiled message to themand their constituents. let's listen. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable. why everything always has to wait till the last minute. we're now at the last minute. and the american people are not going to have any patience for a politically self-inflicted wound to our economy. not right now. the economy's growing. but sustaining that trend is going to require elected officials to do their jobs. >> o'brien, as we mentioned, you'
anyway, just to support the economy. because i enjoy it. >>> coming up, president obama heads back to the white house today to work on the ever looming fiscal cliff. can he cut a deal with republicans. >>> and david gregory may be in trouble of the law because of that ammo thing he has on his anchor desk. [ male announcer ] the more you lose, the more you lose, because for every two pounds you lose through diet and exercise, alli can help you lose one more by blocking some of the fat you eat. let's fight fat with alli. ♪ ♪ you make me happy when skies are gray ♪ [ female announcer ] you know exactly what it takes to make them feel better. ♪ you make me happy [ female announcer ] that's why you choose children's tylenol. the same brand your mom trusted for you when you were young. ♪ how much i love you [ humming ] [ female announcer ] children's tylenol, the #1 brand of pain and fever relief recommended by pediatricians and used by moms decade after decade. [ humming ] by the armful? by the barrelful? the carful? how the bowlful? campbell's soups give you nutrit
. >> in 50 years, it's going to work out great. >> and military to deal with. >> if there's a theme to what we're saying, the united states has to play an active leadership role rather than passive leadership role. if the united states is passive and barack obama to a certain extent, represents democratic ideas na it should be more passive, this is the kind of world that results. i think places like egypt and syria were looking to the united states at least to have a presence in the transition, but we have not and we're seeing the results. >> paul: where do you think, other than -- where are the potential flash points in this coming year? >> liook, there are many. one of them, we don't talk about europe enough. the crisis in europe is going to get dramatically worse in portugal, spain, italy. there is dysfunction in the european union. that's one place to look. that's going to encourage russia to make moves of its own, you mentioned south africa. south africa is not going in a good direction, it's supposed to be the most optimistic spot on the african continent. so i don't see many bright s
. >> president obama doesn't see it that way. >> at some point there's got to be i think a recognition on the part of my republican friends, that you know, take the deal. you know, they will be able to claim that they have worked with me over the last two years. to reduce the deficit more than any other deficit reduction package. >> mohammed aladarin is the ceo of pimco and mark zandy is a chief moist at moody's analytics and joining me in studio is christine romans. the gdp for the u.s. grew at 3.1% over the summer. that's more than double the rate of the previous quarter. you can see the chart, it's been choppy, but it looks like we're going in the right direction. america's economy is gaining pace, doing better than expected. and we've been saying the 2013 could be the year of a real economic renaissance in the united states or at least the beginning of one. talk to me about the consequences to our prosperity if washington doesn't reach a deal. >> the consequences are not good. so what the numbers are telling you is that the private sector is healing. and if the private sector were
's in both sides' best interest to get this done. they want a two-year deal because no one wants to keep running on this stuff. and most importantly, to president obama, he has a state of the union and an inauguration speech to give. he wants to work on his legacy, not on this. >> so what -- you just said that the republicans really did just play right into the hands of the democrats. is that what you said? >> well, i think they fumbled the ball a little bit in their negotiations. i think, for example, even the optics of it, having president obama back in washington today, and having congress still out, is not the right message to end. people right now feel that the republicans are the party of no, that they are the ones causing this, they are going to get blamed. the fact of the matter is, is that they are doing the fiscal responsible thing here and that's where they can hang their hat. is that they have to hold on for deficit spending, and they still have the debt ceiling to hold in their back pocket if they need to. >> so what would, if you had been advising boehner, what would you ad
.com/drive. >>> president obama is heading back from his holiday vacation in hawaii early in case there is a last-minute deal. the senate returns from christmas break tomorrow. house leaders say they're prepared to call members back if there is an agreement. joining us to talk about this is john avalon. he's a senior political columnist for "newsweek" and "the daily beast." we're here again. it's like groundhog day. we don't think there's going to be any kind of grand bargain at this point. what are the short-term measures? what's the best thing to hope for in the next six days? >> the best thing we can hope for is they get back to work again, suzanne. from all reports leadership isn't even talking to each other at this point. so it really is urgent. with six days left, the clock is ticking and the countdown is going on. this is not something abstract on the washington level. people need to appreciate if the country goes over the fiscal cliff, it will impact the bottom line as well. money out of their pocket in the form of tax hikes. >> we have stop gap measures. there are some things they can do
think a grand bargain is impossible at this point. but president obama coming back from vacation in hawaii. that's an indication that some kind of deal -- however small -- is definitely coming. i want to point out, and i know you've been negative on this mastercard data on retail sales, and everybody thinks it's going to be a mess for the holiday season. i want to point out that the stocks are not acting that way. that this is a disaster for the season. the s&p retail index hit an historic high on december 3rd. historic high. since then, it has only been down about 3%. these stocks are not acting like there's a disaster. i can give you several reasons why they're not down so far. number one, we are going to see eps growth in the fourth quarter from some of them because of the extra week that there is. number two, we've had much lower cotton costs this year. their overall costs are lower. that's helping their earnings. number three, inventory levels are much lower. and that's going to help their gross margins. number four, we had pretty good gdp numbers in q-3. number five, home p
and president obama sees as well there is something about the presentation of the complexity of some of the things that people who are charged with these jobs have to deal with. writing it and imagining it makes me glad it's not my job just imagining how tough some of these decisions must be makes you grateful. >> the verse that we show in frost nixon "the queen" and that is how much responsibility you take with that, especially when art itself is working in metaphors. when people ask me about there is a pivot al scene in "frost nixon" which never happened. how could you show that because that is a pivotal moment in the piece. and the same with "the queen," that never happened. nixon did used to make phone calls and a part of his research would be times he was on heavy medication at time and would make phone calls at times he wouldn't remember. his staff were told if the president calls you during the middle of the night stay on the phone, he will eventually fall asleep you put down the phone and never mention it. if it was a ballet of frost nixon, is it a valuable argument to say fr
is interested in getting this deal? >> as dana pointed out, lots of house republicans would rather vote on something after the 1st than before. i haven't seen any indication from obama or the people around him that they are okay with going over the cliff. they really do seem to want to do something before the deadline. they seem desperate to do that. plenty of liberals say, go over the cliff. big cuts in the pentagon and big tax hikes. the white house, from all indications that i've seen, they don't want that to happen. they are scared of what could happen to the markets. >> why aren't they dalg dealing with boehner? dana, be go ahead. jumpb in here. >> i think they won their negotiating power once boehner last week failed. as dana pushed out, the only thing that can get boehner is to do something. >> reporter: i think that you're right when i said that democrats don't think that the president will have much political damage. that does seem to be coming more from democrats here in congress than in the white house. democrats here in congress feel that it's a win-win for them politically.
>>> welcome to "newsline." i'm keiko kitagawa in tokyo. >>> u.s. president barack obama says he's optimistic democrats and republicans can reach a deal to steer clear of the so-called fiscal cliff, but he's got a backup plan if they can't. obama wrapped up a meeting at the white house with congressional leaders. they're trying to find a way to head off automatic tax increases and spending cuts that take effect in the new year which economists warned could trigger a recession. >> we're now at the point where in just four days, every american's tax rates are scheduled to go up by law. every american's paycheck will get considerably smaller. and that would be the wrong thing to do for our economy, it would be bad for middle class families, and it would be bad for businesses that depend on family spending. fortunately, congress can prevent it from happening if they act right now. i just had a good and constructive discussion here at the white house with senate and house leadership about how to prevent this tax hike on the middle class. and i'm optimistic we may still be able to reac
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